Freeport Capital Hybrid PayTech Asia Enters Into Partnership LOI with The Gemini Group Of Companies
Dec 28, 2012 (Close-Up Media via COMTEX) --
Freeport Capital, a provider of Mobile Credit and PIN Debit payment solutions, announced that it subsidiary HybridPaytech Asia Inc.(HYBRID) and BANK OUTSOURCING COMPANY LTD (BOS) a division of The Gemini Group of Companies(GGC) announced that they have signed a Letter of Intent to enter into a partnership and a license agreement.
The Letter of Intent describes BOS's intent to license HYBRID's extensive Mobile Payment Ecosystem, which contains access to all HYBRID's Mobile payment systems, development and hardware.
According to a release, becoming a HYBRID licensee provides access to additional products and services to deliver secure, safe and easy mobile payment globally. As HYBRID partner, BOS will have access to HybridPaytech Asia's extensive banking and switching relationships to enable BOS to effectively market HYBRID's full suite of services throughout the Philippine's and Asia and in addition Hybrid and BOS will be jointly developing new payment options and platforms to support BOS's clientele.
"HYBRID's Mobile Payment Ecosystem and client portfolio is a strong and critical element to our business strategy," said Alfredo Aquino, President of BOS. "Our alliance with HYBRID gives us access to wireless payment technology and allows us the freedom to focus on delivering Payment and Remittance solutions to our existing clientele, Philippine/Asian banks, their merchant portfolios, other Financial Instutitions and select Governmental Agencies." In addition BOS and HybridPaytech Asia are also working together with partner banks to test the Hybrid Mobile technology to support the payroll-driven Overseas Filipino Workers sector.
Hybridpaytech Asia Inc, President Gary Repchuk indicates, "HYBRID combines scale and expertise to structure sophisticated partnerships with global clients that require a global payment solution. We will enable companies to strengthen their market position by providing access to Hybrids mobile payment platform. Setting up a partnership with BOS and collaborating with their banking relationships provides HYBRID with a strong and established partnership that has proven itself as the preeminent Bank Outsourcing Company in the Philippines.
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